For retailers operating in shopping malls, a Gross Turnover Audit (GTO) or Sales audit/Rental audit/Gross Income Audit is typically required. Furthermore, the tenancy agreements between landlords and tenants usually include a provision mandating tenants to submit an annual Statement of Gross Turnover, audited by a public accountant. This requirement arises because a portion of the rental is based on a percentage of the gross turnover.
Gross turnover, encompassing the total sales generated by retailers over a specific period, must be audited to ensure the accuracy of the figures presented in the Statement of Gross Turnover to the landlord. This financial information holds utmost importance for landlords as it constitutes a component of the rental as stipulated in the tenancy agreement.
Throughout the audit process, our dedicated team of auditors meticulously validates the total sales for the relevant period. Subsequently, a certified report is provided to the landlords. This report serves as conclusive evidence that the monthly gross turnover presented in the Statement of Gross Turnover is accurate and fair.
Our experienced auditors are committed to providing high-quality services that meet the unique needs of our clients. Read more here.
At Athel, we prioritize assisting our clients in meeting their filing due dates effortlessly. Furthermore, we meticulously design our audit approach to add substantial value to our clients’ businesses. This involves not only reducing audit lead time, cost, and paperwork but also enhancing overall efficiency.
In our continuous pursuit of improvement, we actively undertake significant digitalization efforts. One notable initiative involves implementing Caseware’s audit software. This strategic move aims to provide a streamlined approach for conducting audits, ensuring a seamless process without compromising the quality of our services.
By combining our commitment to leveraging technology with a dedicated team of experienced professionals, we actively ensure the delivery of high-quality audit services. This approach is thoughtfully crafted to meet the unique needs of our clients.
At Athel Accounting, we recognize the uniqueness of small businesses. Therefore, we provide personalized accounting and audit services designed to meet your specific needs. Serving as trusted advisors to CEOs, our team of experienced accountants is dedicated to offering proactive advice and tailored solutions. These services aim to optimize your financial processes and facilitate the achievement of your business goals.
Question: How do you charge?
A: At Athel Accounting, we structure our audit fees based on various factors such as scope, complexity, volume, and audit risks.
Question: What other services do you provide?
A: At Athel Accounting, we excel in handling compliance work for SMEs, offering a range of services including bookkeeping, accounting, corporate secretarial, and tax work.